Experian FICO score??

[mamboloco]

does your credit card balance show zero on your report or is it showing some balance? even if you PIF on the "due date" (pay in full) credit card companies will report the statement balance (balance on the day the statement is cut)

this non-zero balance, however small will change your score. (utilization)

The recomendation is not to loose sleep over this variations, but you can always zero you card the day before the next statement is cut (ahead of due date) and you would consistently show zero balance every month in your report.

http://www.creditcards.com/credit-card-news/day-report-balance-data-bureaus-1586.php

hope this helps.

 

[Fishkiller]

Your credit score is derived from several sources. If you have a high limit on your credit card but do not use that card it is a deduct. If you have a large credit card balance, even with a high limit, it is a deduct. You can go nuts trying to finger this stuff out. If you really are interested in finding out why yu have t call htem and be on hold for about 45 minutes.

If you have a score over 750 I would not worry about it.

 

[TexasRedneck]

Companies pinging your credit record to determine if they want to offer you a great deal on a credit card?

That activity doesn't affect your score. It can be anything - even an old credit card or vehicle loan dropping off your records. I'm expecting ours to take a huge hit in 3 years - the house will have been paid off for 7 years, so......

 

[Brains]

Your credit score is derived from several sources. If you have a high limit on your credit card but do not use that card it is a deduct. If you have a large credit card balance, even with a high limit, it is a deduct. You can go nuts trying to finger this stuff out. If you really are interested in finding out why yu have t call htem and be on hold for about 45 minutes.

If you have a score over 750 I would not worry about it.

Not sure that's fully accurate. I have a lot of 'available' credit I don't use, and my score is pretty up there.

 

[Ole Cowboy]

does your credit card balance show zero on your report or is it showing some balance? even if you PIF on the "due date" (pay in full) credit card companies will report the statement balance (balance on the day the statement is cut)

this non-zero balance, however small will change your score. (utilization)

The recomendation is not to loose sleep over this variations, but you can always zero you card the day before the next statement is cut (ahead of due date) and you would consistently show zero balance every month in your report.

http://www.creditcards.com/credit-card-news/day-report-balance-data-bureaus-1586.php

hope this helps.

I pay the FULL balance, NOT the balance due. the full balance is always higher, but zero balances are near impossible for me because my 2 cards are business and personal and run close to $10k a month and often well past that at certain times of the year...like when I am buying inventory my big buys are 2 a year and those months I will hit $15k or better.

 

[Byrd666]

Marked for interest

 

[avvidclif]

It's black magic. Mine was high and abt 4 months (Feb) after I bought a used truck it took a 15 point hit. Since then it's been slowly creeping back up. The CC are paid off every month, no house payment, truck payment is doubled and on time. Ins paid once a year. It's crazy.

 

[dsgrey]

Credit Karma showed that mine took a hit when I paid off my wife’s car. When I went to get a Polaris SxS equifax or whatever it was showed it to be up.

IME, the 2 shown on sites like Credit Karma are never used when I actually need to get approved and their scores are usually not a good indicator of what my credit score really is.
Sent from my iPhone using Tapatalk

Credit Karma always shows about 30-40 points LESS THAN my scores obtained directly from the credit bureaus.

 

[boomgoesthedynamite]

It's pretty easy to figure it out...

Sent from my GM1900 using Tapatalk

 

[Ole Cowboy]

Let me thank everyone here for your comments I have learned a few things and I think I see why I have this wave pattern.

I agree that there is a lot of randomnesses and I don't doubt some of it is not much more than a wild azz guess.. the max score is 850, that begs the question of how granular they need to get to alter your score only 1 point or 1/850th...sounds like BS to me.

 

[Fishkiller]

Not sure that's fully accurate. I have a lot of 'available' credit I don't use, and my score is pretty up there.

Take a look at the reasons for your score. My score is over 800 and I have those silly reasons.

 

[Ole Cowboy]

Not sure that's fully accurate. I have a lot of 'available' credit I don't use, and my score is pretty up there.

If that were true then I would have a low score (NOT saying it is not true) it is really a contradiction.

 

[oldag]

That activity doesn't affect your score.

You are correct. The "soft" checks don't affect scores anymore.

 

[oldag]

Mine stays at 850. Only exception was when I had a number of large purchases on credit card in the same month. Dropped to 840. Even though paid in full by the due date, apparently when the amount charged is too high a percentage of the credit limit, you get dinged a little.

 

[Brains]

Take a look at the reasons for your score. My score is over 800 and I have those silly reasons.

If that were true then I would have a low score (NOT saying it is not true) it is really a contradiction.

That reminds me, I need to pull mine for this year. I've never looked to see if there's something outlining 'reasons' for the score. I just request my yearly free copies and look for anomalies.

Speculating, but I'm fairly certain a credit score is more about pattern recognition than specific if this then that rules. AI and machine learning have likely found a home here. Thinking out loud, if I were to write risk assessment software I can think of two risk profiles where nearly identical transactions would generate a different score alteration. For example. Person 1 has no 30 day lates, rarely carries more than 10% of available credit balances, and suddenly maxes out his cards. Person 2 also has no 30 day lates, but frequently maxes out cards and pays off balances over several months. One would look risky as for when/if the debt would be recovered, the other looks like business as usual.

 

[Mungle]

Length of credit history, amount of available credit, utilization ratio of available credit are the main factors that control your score. Income is clearly another factor, but you can have a great score with low income.

High credit limits with long credit history, without delinquency, will yield high scores. Short credit history with high limits will yield lower scores. You are a risk of taking on all that debt at any time unless your history proves otherwise.

Scores can be lower for not having any revolving (unsecured) debt. Mortgage and auto payments are not revolving. Reporting bureaus like to see you participating so they can keep their finger on your pulse.

I have 1 credit card for use when renting a car or hotel room, as companies prefer credit to debit in these instances (some places will instant credit check you with a debit card). Scores will go up 10-15 points when the charge is reported and back down when I pay in full.

Like many things in life, predictability is what society thrives on. From a bank's perspective, we can get greedy or in trouble and max out all available credit overnight, and as a result be overextended and therefore a liability to them.

As mentioned earlier in the thread, if you're over 750 - no worries. 800+ and a good relationship with your bank can get you a loan with a phone call.

 

[vmax]

My credit score is up or down every month by anywhere from 8 points to 15 points, I cannot figure out why, anyone here that works in the business that could perhaps give me some insight??

Why in the hell does that bother you?
Don’t you have some brush clear? LOL

 

[Vaquero]

Why in the hell does that bother you?
Don’t you have some brush clear? LOL

View attachment 187616

No no no. That one has power steering.

 

[vmax]

No no no. That one has power steering.

Yeah, good catch...
That tough son of a bitch wouldn’t get caught with power steering.

He’d say that was fer pussies!

 

[mamboloco]

I pay the FULL balance, NOT the balance due. the full balance is always higher, but zero balances are near impossible for me because my 2 cards are business and personal and run close to $10k a month and often well past that at certain times of the year...like when I am buying inventory my big buys are 2 a year and those months I will hit $15k or better.

What I'm saying is it matters WHEN you pay the full amount. if you pay the full amount on the due date, you will get dinged because they will report the balance you had 20 days earlier when the statement was mailed to you.